Wednesday, October 17, 2012

AUD/USD 1D Chart Rectangle - October 17, 2012

AUD/USD 1D Chart Rectangle - October 17, 2012


After bouncing from the pattern's support of a Double Top pattern, AUD/USD has formed a Rectangle pattern on the one-day chart. The pattern has 74% quality and 41% magnitude in the 76-bar period.
The pattern started on 12th of July, 2012, when the pair started appreciating from 1.0101; at the moment the pair is trading slightly above the 200 bar SMA at 1.0326; the pattern's support is at 1.0158; and resistance is at 1.0618. Read more